Lake Tahoe Luxury Real Estate News

Joel Horowitz, the co-founder of the Tommy Hilfiger fashion line has place his extravagant luxury mega-mansion called Tranquility on the market for $75 Million Dollars. This luxury property in Zepher Cove located on the south end of the Nevada side of Lake Tahoe has been off and on the market for the past six years. He was originally asking $100 Million but with little interest show for the property at that price, he reduced the price of the 27,000 square foot mansion by $25 Million. He is even offering to carry the financing on this home to get it sold.

The fact is, there are many opulent homes around the USA with huge multi-million dollar discounts and in some cases the sellers are taking losses just to move their properties.

From the listing agent at Sotheby’s: Globally recognized as Lake Tahoe’s largest, most exquisite, private land holding in tax favorable Nevada, this alluring property is unparalleled in architecture, design, and open-air endeavors. The sprawling 210-acre estate, ideally situated a midst a majestic pine and aspen forest, boasts a 27,000 sq. ft. mansion with indoor glass mosaic pool, private lake and boathouse pavilion, two over-the-water par 3 golf holes, horse stables, artists studio, separate guest and staff residences, with elaborate hosting capabilities. From its exact replica of the grand staircase built on the S.S. Titanic, to a cigar lounge fashioned… after New Yorks famed St. Regis Hotel, handcrafted details abound. A livable home to cherish through all seasons – the dawn of an epiphany, the measure of greatness, a dream to be realized.

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North of this property at the very north end of Lake Tahoe on the Nevada side we have the Howard Hughes cabin located behind the famous Cal-Neva Casino.

The cabin style house known as Summertide was built in 1934 with local timber and sits on 5.5 acres. Howard purchased the property in the 1950’s and features five bedrooms and an office. It comes with a guest house that was built in 1940 and a garage that hold 4 vehicles.

Most impressive is the 500 feet of lakefront property featuring amazing views of Lake Tahoe and the mountains. According to the Washoe County Assessors office, the house has a prior sales price of $3.5 Million back in 1995. Listing Agent Link